Is the Federal Reserve Making a Huge Mistake?

Is the Federal Reserve Making a Huge Mistake?

Last week the Federal Reserve raised interest rates by 0.75 percentage points, continuing one of the fastest escalations of the benchmark rate in history. Jerome H. Powell, the Fed chair, warned that more pain was to come as the central bank fixes its eye on Sauron on our core inflation. But the theme of this episode is that U.S. interest rate policy does not stop at the U.S. border. Our monetary policy is a lever that moves the world. Soon after the Fed’s announcement last week, the British pound crashed, oil prices fell, currencies (crypto- and otherwise) fell, and the possibility of a global downturn came ever slightly into greater focus. Today’s guest is Jason Furman, the Harvard economist and former top economic adviser to President Barack Obama. We talk about the state of the U.S. economy, why the Fed is doing what it’s doing, the best arguments against rising interest rates, the global fallout of U.S. monetary policy, and the possibility that the world economy is headed for a dark, dark winter. If you have questions, observations, or ideas for future episodes, email us at PlainEnglish@Spotify.com. You can find us on TikTok at www.tiktok.com/@plainenglish_ Host: Derek Thompson Guest: Jason Furman Producer: Devon Manze Learn more about your ad choices. Visit podcastchoices.com/adchoices

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America in the Age of Diagnosis

America in the Age of Diagnosis

America is sicker than ever. That’s what the data says, anyway. Psychological and psychiatric diagnoses have soared. Between the 1990s and the mid-2000s, bipolar disorder among American youth grew by...

9 Syys 202557min

Trumponomics Explained, Part 2: The Enshittification of American Power

Trumponomics Explained, Part 2: The Enshittification of American Power

In the second of our two-episode series on Donald Trump, economics, and power, we talk to Henry Farrell, a professor of political science at Johns Hopkins. Farrell has written extensively on how the U...

5 Syys 202552min

What Is Trumponomics? Part 1: How Donald Trump Is Breaking American Capitalism

What Is Trumponomics? Part 1: How Donald Trump Is Breaking American Capitalism

Today is the first of two interviews this week trying to answer this question: What is Trumponomics? From the 1980s to the 2010s, it was generally assumed that Republicans and Democrats had settled d...

3 Syys 202549min

The Healthiest "Super-Agers" Have One Thing in Common, According to a 25-Year Study

The Healthiest "Super-Agers" Have One Thing in Common, According to a 25-Year Study

Memory is the glue of life. Without it, our focus softens, our experience of the world blurs, and our identities melt away. But as people age, their memory declines. Many billions of dollars have been...

27 Elo 202541min

Plain History: How the Transcontinental Railroads Built the Modern World

Plain History: How the Transcontinental Railroads Built the Modern World

Today’s pod is about the economic story of the moment. It’s about new technology that supporters claim will transform the U.S. economy, an infrastructure build-out unlike anything in living memory tha...

20 Elo 202555min

The Modern World Is Changing America’s Personality For the Worse

The Modern World Is Changing America’s Personality For the Worse

According to analysis by Financial Times writer John Burn-Murdoch, something extraordinary has happened to Americans’ personalities in the last decade. Longitudinal tests indicate that we’ve collectiv...

13 Elo 202547min

Will AI Usher In the End of Deep Thinking?

Will AI Usher In the End of Deep Thinking?

Last week, the Bureau of Economic Analysis published the latest GDP report. It contained a startling detail. Spending on artificial intelligence added more to the U.S. economy than consumer spending l...

6 Elo 202558min

The New Geography of Housing in America

The New Geography of Housing in America

Subscribe to Derek’s new Substack. In 1991, the median age of first-time homebuyers was 28. Now it’s 38, an all-time high. In 1981, the median age of all homebuyers was 36. Today, it’s 56—another all...

30 Heinä 202542min

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